Correlation Between STERLING FINANCIAL and MULTI TREX
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By analyzing existing cross correlation between STERLING FINANCIAL HOLDINGS and MULTI TREX INTEGRATED FOODS, you can compare the effects of market volatilities on STERLING FINANCIAL and MULTI TREX and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in STERLING FINANCIAL with a short position of MULTI TREX. Check out your portfolio center. Please also check ongoing floating volatility patterns of STERLING FINANCIAL and MULTI TREX.
Diversification Opportunities for STERLING FINANCIAL and MULTI TREX
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STERLING and MULTI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STERLING FINANCIAL HOLDINGS and MULTI TREX INTEGRATED FOODS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MULTI TREX INTEGRATED and STERLING FINANCIAL is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on STERLING FINANCIAL HOLDINGS are associated (or correlated) with MULTI TREX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MULTI TREX INTEGRATED has no effect on the direction of STERLING FINANCIAL i.e., STERLING FINANCIAL and MULTI TREX go up and down completely randomly.
Pair Corralation between STERLING FINANCIAL and MULTI TREX
If you would invest 380.00 in STERLING FINANCIAL HOLDINGS on September 3, 2024 and sell it today you would earn a total of 100.00 from holding STERLING FINANCIAL HOLDINGS or generate 26.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
STERLING FINANCIAL HOLDINGS vs. MULTI TREX INTEGRATED FOODS
Performance |
| Timeline |
| STERLING FINANCIAL |
| MULTI TREX INTEGRATED |
STERLING FINANCIAL and MULTI TREX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STERLING FINANCIAL and MULTI TREX
The main advantage of trading using opposite STERLING FINANCIAL and MULTI TREX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STERLING FINANCIAL position performs unexpectedly, MULTI TREX can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in MULTI TREX will offset losses from the drop in MULTI TREX's long position.| STERLING FINANCIAL vs. MULTIVERSE MINING AND | STERLING FINANCIAL vs. IKEJA HOTELS PLC | STERLING FINANCIAL vs. JAIZ BANK PLC | STERLING FINANCIAL vs. GOLDLINK INSURANCE PLC |
| MULTI TREX vs. SECURE ELECTRONIC TECHNOLOGY | MULTI TREX vs. STERLING FINANCIAL HOLDINGS | MULTI TREX vs. FIDELITY BANK PLC | MULTI TREX vs. FIDSON HEALTHCARE PLC |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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